To Obtain Maximum Benefit from a Bank Reconciliation the Reconciliation

question 92

True/False

To obtain maximum benefit from a bank reconciliation the reconciliation should be prepared by an employee who has no other responsibilities pertaining to cash.

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Definitions:

Average Observed Time

The mean time recorded for a given task or process, based on measurements taken over a series of observations or operations.

Allowance Factors

Elements taken into account to adjust time standards or costs, accounting for various delays or inefficiencies in operations.

Normal Time

The average time in which a task or operation should be completed under normal working conditions.

Lillian Gilbreth

An American psychologist and engineer known as the "mother of modern management," instrumental in developing industrial management techniques and the study of ergonomics.